Ogden FHA Loan Rates, Closing Costs & Stats

OGDEN-CLEARFIELD, UT

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Ogden's 111 lenders originated 2,249 FHA loans during 2023. The total origination value was $849,405,000, with an average FHA loan value of $377,681.

    Ogden FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Ogden averaged 6.86% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Ogden's average FHA mortgage closing costs are $10,287.

    The average rate for the prior week (2024-04-12) was 6.75% and one month ago for the week of 2024-03-15, the average rate was 6.62%.

    The average rate one year ago was 6.35%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.92%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Ogden FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Ogden level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 304 6.13% $15,230
    INTERCAP LENDING INC. 119 6.62% $15,942
    QUICKEN LOANS, LLC 107 6.19% $14,440
    ACADEMY MORTGAGE CORPORATION 85 6.56% $17,731
    FIRST COLONY MORTGAGE CORPORATION 65 6.42% $17,099
    PENNYMAC LOAN SERVICES, LLC 55 6.12% $15,757
    CASTLE & COOKE MORTGAGE, LLC 54 6.51% $16,947
    RANLIFE, INC. 54 6.46% $17,377
    Plains Commerce Bank 53 6.53% $17,097
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 50 6.56% $13,965
    Century Mortgage Company DBA Century Lending Company 49 6.24% $14,387
    AMERICAN PACIFIC MORTGAGE CORPORATION 48 6.83% $14,018
    SECURITYNATIONAL MORTGAGE COMPANY 47 6.55% $17,168
    CITYWIDE HOME LOANS, LLC 40 6.19% $13,937
    CARDINAL FINANCIAL 40 6.47% $18,259
    GUILD MORTGAGE COMPANY 38 6.33% $16,713
    BROKER SOLUTIONS, INC. 34 6.69% $16,816
    GOLDENWEST 30 6.18% $15,107
    PRIMELENDING, A PLAINSCAPITAL COMPANY 29 6.72% $14,734
    PRIMARY RESIDENTIAL MORTGAGE, INC. 28 6.63% $15,926
    Bank of Utah 27 6.33% $11,448
    NEWREZ LLC 27 5.97% $14,809
    Paramount Residential Mortgage Group, Inc. 24 7.02% $15,843
    VERITAS FUNDING, LLC 22 6.66% $18,002
    LOANDEPOT.COM, LLC 22 5.89% $17,855
    FREEDOM MORTGAGE CORPORATION 18 6.74% $20,592
    CROSSCOUNTRY MORTGAGE, LLC 18 6.45% $17,091
    AMERICAN FINANCIAL NETWORK, INC. 17 7.07% $19,080
    SWBC MORTGAGE CORPORATION 15 6.52% $9,017
    INSPIRE HOME LOANS INC. 15 5.29% $13,519
    MY MOVE MORTGAGE, LLC 15 6.34% $16,780
    Mr. Cooper ( Nationstar Mortgage ) 12 5.86% $17,746
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 11 6.44% $11,957
    DIRECT MORTGAGE, CORP. 11 5.85% $18,085
    Network Funding, L.P. 10 6.53% $16,383
    AMERICA FIRST 10 6.68% $10,929
    Sierra Pacific Mortgage Company, Inc. 8 5.97% $13,696
    CLM MORTGAGE, INC 8 6.04% $14,841
    VAN DYK MORTGAGE CORPORATION 8 6.34% $15,704
    GUARANTEED RATE, INC. 7 5.63% $17,833
    CANOPY MORTGAGE, LLC 7 6.32% $26,828
    Carrington Mortgage Services, LLC 7 6.02% $16,179
    The Loan Store, Inc. 7 6.57% $17,340
    SECURITY HOME MORTGAGE, LLC. 7 6.28% $14,365
    PLAZA HOME MORTGAGE, INC. 7 6.59% $13,672
    J. VIRGIL, INC. 7 6.25% $13,787
    Flagstar Bank, FSB 6 6.06% $14,874
    VILLAGE CAPITAL MORTGAGE 6 5.77% $15,076
    AMERICAN FINANCING CORPORATION 5 6.10% $15,278
    MORIA DEVELOPMENT, INC. 5 6.73% $13,602
    PACIFIC RESIDENTIAL MORTGAGE, LLC 5 6.98% $17,440
    Equity Prime Mortgage LLC 5 7.18% $19,420
    SUN WEST MORTGAGE COMPANY, INC. 5 6.22% $11,645
    CITY FIRST MORTGAGE SERVICES, L.L.C. 5 6.40% $16,764
    ON Q FINANCIAL, INC. 5 6.43% $15,259
    LAKEVIEW LOAN SERVICING, LLC 4 5.94% $14,916
    AMERICAN FINANCIAL RESOURCES, INC. 4 6.69% $15,699
    GUARANTEED RATE AFFINITY, LLC 4 6.51% $18,137
    LOANPAL, LLC 4 5.78% $15,508
    OCMBC, INC. 4 7.16% $14,819
    CYPRUS Federal Credit Union 3 6.46% $13,838
    DHI MORTGAGE COMPANY, LTD. 3 5.42% $12,123
    Northpointe Bank 3 6.83% $15,797
    The Federal Savings Bank 3 6.21% $17,711
    MOUNTAIN AMERICA 3 6.58% $12,331
    S1L, Inc. 3 6.04% $15,510
    AMERISAVE MORTGAGE CORPORATION 3 5.67% $17,067
    CORNERSTONE HOME LENDING, INC. 3 6.00% $21,762
    AXIA FINANCIAL, LLC 3 6.38% $18,137
    NBKC BANK 2 6.56% $9,132
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.44% $21,001
    NATIONS DIRECT MORTGAGE, LLC 2 6.75% $17,789
    JPMorgan Chase Bank 2 6.25% $10,854
    PANORAMA MORTGAGE GROUP, LLC 2 6.69% $18,196
    Glacier Bank 2 6.31% $12,208
    CHURCHILL MORTGAGE CORPORATION 2 6.25% $12,436
    Cache Valley Bank 2 6.31% $7,632
    BAY EQUITY LLC 2 6.00% $22,346
    Barrington Bank & Trust Company, N.A. 2 6.25% $13,618
    Bank of England 2 6.81% $17,703
    TOP FLITE FINANCIAL, INC. 2 7.06% $16,928
    Utah Mortgage Loan Corporation 2 6.38% $8,851
    AmeriHome Mortgage Company, LLC 2 6.13% $13,512
    American Mortgage & Equity Consultants, Inc. 2 6.19% $19,693
    EMBRACE HOME LOANS, INC. 1 5.75% $11,665
    EAGLE HOME MORTGAGE, LLC 1 5.13% $16,391
    NATIONS RELIABLE LENDING, LLC 1 6.00% $15,665
    Nations Lending Corporation 1 5.25% $12,985
    KeyBank 1 7.00% $9,558
    Regions Bank 1 5.50% $24,199
    LADERA LENDING, INC. 1 6.25% $21,695
    Cornerstone First Mortgage, Inc 1 6.63% $18,556
    MORTGAGEONE, INC. 1 7.63% $13,462
    UTAH COMMUNITY 1 5.75% $14,974
    SOVEREIGN LENDING GROUP INCORPORATED 1 6.25% $19,253
    Sunflower Bank 1 6.49% $12,289
    Willamette Valley Bank 1 5.75% $19,895
    LAND HOME FINANCIAL SERVICES, INC. 1 6.25% $17,095
    Mortgage Research Center, LLC 1 6.75% $5,826
    MID AMERICA MORTGAGE, INC. 1 6.63% $15,539
    ZILLOW HOME LOANS, LLC 1 6.25% $10,581
    Ixonia Bank 1 5.63% $16,572
    NBH Bank 1 7.75% $6,719
    Zions Bank 1 6.00% $8,974
    Hometown Equity Mortgage, LLC 1 6.63% $9,643
    GUARANTY HOME MORTGAGE CORPORATION 1 6.63% $13,562
    MICHIGAN MUTUAL, INC. 1 6.63% $16,421
    TOWNE MORTGAGE COMPANY 1 6.25% $14,697
    GENEVA FINANCIAL, LLC 1 7.38% $16,308
    PINNACLE LENDING GROUP, INC. 1 5.63% $11,499
    EVERETT FINANCIAL, INC. 1 7.00% $8,027

    The top Ogden FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 304 FHA loans originated. Their average total fees are $15,230, which is $712 lower than the next largest lender, INTERCAP LENDING INC..

    The lowest fee Ogden FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($9,017), AMERICA FIRST ($10,929), Bank of Utah ($11,448), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($11,957) and INSPIRE HOME LOANS INC. ($13,519).

    The lowest rate Ogden FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.29%), DIRECT MORTGAGE, CORP. (5.85%), Mr. Cooper ( Nationstar Mortgage ) (5.86%), LOANDEPOT.COM, LLC (5.89%) and NEWREZ LLC (5.97%).

    Ogden FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    OGDEN-CLEARFIELD, UT BOX ELDER 2020 $646,300 $827,400 $1,000,100 $1,242,900
    OGDEN-CLEARFIELD, UT DAVIS 2020 $646,300 $827,400 $1,000,100 $1,242,900
    OGDEN-CLEARFIELD, UT MORGAN 2020 $646,300 $827,400 $1,000,100 $1,242,900
    OGDEN-CLEARFIELD, UT WEBER 2020 $646,300 $827,400 $1,000,100 $1,242,900
    OGDEN-CLEARFIELD, UT BOX ELDER 2023 $744,050 $952,500 $1,151,400 $1,430,900
    OGDEN-CLEARFIELD, UT DAVIS 2023 $744,050 $952,500 $1,151,400 $1,430,900
    OGDEN-CLEARFIELD, UT MORGAN 2023 $744,050 $952,500 $1,151,400 $1,430,900
    OGDEN-CLEARFIELD, UT WEBER 2023 $744,050 $952,500 $1,151,400 $1,430,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ogden (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $349,850 (7.7%) $413,336 (9.9%) 1.30 1,037
    2018-02-01 $366,950 (4.5%) $439,011 (9.8%) 1.33 941
    2018-03-01 $379,950 (4.0%) $457,408 (10.0%) 1.33 956
    2018-04-01 $386,200 (3.7%) $463,257 (8.8%) 1.31 1,022
    2018-05-01 $384,950 (4.2%) $465,903 (10.7%) 1.29 1,151
    2018-06-01 $384,700 (5.0%) $466,443 (11.6%) 1.28 1,266
    2018-07-01 $378,700 (8.2%) $460,206 (13.5%) 1.26 1,409
    2018-08-01 $373,250 (9.8%) $447,646 (11.4%) 1.25 1,562
    2018-09-01 $368,900 (11.5%) $439,322 (11.7%) 1.24 1,718
    2018-10-01 $364,900 (10.6%) $441,854 (11.5%) 1.24 1,721
    2018-11-01 $364,500 (9.7%) $444,348 (12.3%) 1.24 1,645
    2018-12-01 $369,950 (8.8%) $457,098 (15.4%) 1.28 1,498
    2019-01-01 $379,900 (8.6%) $475,217 (15.0%) 1.31 1,325
    2019-02-01 $384,900 (4.9%) $479,999 (9.3%) 1.30 1,254
    2019-03-01 $396,413 (4.3%) $497,864 (8.8%) 1.30 1,209
    2019-04-01 $406,690 (5.3%) $506,640 (9.4%) 1.29 1,257
    2019-05-01 $399,350 (3.7%) $495,152 (6.3%) 1.25 1,394
    2019-06-01 $390,950 (1.6%) $488,464 (4.7%) 1.22 1,466
    2019-07-01 $384,950 (1.7%) $480,403 (4.4%) 1.21 1,551
    2019-08-01 $377,264 (1.1%) $475,781 (6.3%) 1.19 1,579
    2019-09-01 $365,809 (-0.8%) $464,336 (5.7%) 1.17 1,641
    2019-10-01 $357,950 (-1.9%) $459,004 (3.9%) 1.15 1,669
    2019-11-01 $359,900 (-1.3%) $460,604 (3.7%) 1.18 1,514
    2019-12-01 $373,000 (0.8%) $480,826 (5.2%) 1.24 1,213
    2020-01-01 $388,900 (2.4%) $527,877 (11.1%) 1.30 1,000
    2020-02-01 $398,900 (3.6%) $555,903 (15.8%) 1.31 865
    2020-03-01 $401,190 (1.2%) $570,356 (14.6%) 1.26 910
    2020-04-01 $393,373 (-3.3%) $512,466 (1.2%) 1.23 1,171
    2020-05-01 $415,000 (3.9%) $560,942 (13.3%) 1.26 990
    2020-06-01 $441,515 (12.9%) $607,383 (24.4%) 1.30 850
    2020-07-01 $445,000 (15.6%) $614,246 (27.9%) 1.29 727
    2020-08-01 $429,945 (14.0%) $616,028 (29.5%) 1.23 607
    2020-09-01 $431,200 (17.9%) $621,395 (33.8%) 1.24 532
    2020-10-01 $441,450 (23.3%) $661,467 (44.1%) 1.26 475
    2020-11-01 $454,700 (26.3%) $702,460 (52.5%) 1.33 424
    2020-12-01 $457,475 (22.7%) $749,510 (55.9%) 1.36 335
    2021-01-01 $495,300 (27.4%) $751,436 (42.4%) 1.48 275
    2021-02-01 $472,475 (18.4%) $783,288 (40.9%) 1.38 236
    2021-03-01 $462,475 (15.3%) $762,947 (33.8%) 1.31 267
    2021-04-01 $484,331 (23.1%) $751,637 (46.7%) 1.31 273
    2021-05-01 $515,000 (24.1%) $751,205 (33.9%) 1.37 331
    2021-06-01 $494,463 (12.0%) $706,777 (16.4%) 1.30 453
    2021-07-01 $480,000 (7.9%) $646,861 (5.3%) 1.27 504
    2021-08-01 $494,675 (15.1%) $663,204 (7.7%) 1.32 602
    2021-09-01 $494,950 (14.8%) $646,546 (4.1%) 1.32 659
    2021-10-01 $491,900 (11.4%) $622,688 (-5.9%) 1.31 616
    2021-11-01 $489,340 (7.6%) $616,658 (-12.2%) 1.31 549
    2021-12-01 $504,900 (10.4%) $640,360 (-14.6%) 1.37 407
    2022-01-01 $499,900 (0.9%) $631,009 (-16.0%) 1.35 264
    2022-02-01 $537,780 (13.8%) $678,178 (-13.4%) 1.40 274
    2022-03-01 $527,000 (14.0%) $678,796 (-11.0%) 1.32 331
    2022-04-01 $572,400 (18.2%) $700,347 (-6.8%) 1.36 471
    2022-05-01 $582,225 (13.1%) $693,662 (-7.7%) 1.33 786
    2022-06-01 $584,500 (18.2%) $683,408 (-3.3%) 1.30 1,117
    2022-07-01 $560,000 (16.7%) $639,842 (-1.1%) 1.26 1,582
    2022-08-01 $544,950 (10.2%) $632,814 (-4.6%) 1.26 1,803
    2022-09-01 $534,500 (8.0%) $627,445 (-3.0%) 1.25 1,876
    2022-10-01 $528,000 (7.3%) $617,659 (-0.8%) 1.24 1,926
    2022-11-01 $519,997 (6.3%) $609,878 (-1.1%) 1.25 1,884
    2022-12-01 $526,643 (4.3%) $617,475 (-3.6%) 1.30 1,642
    2023-01-01 $544,500 (8.9%) $640,507 (1.5%) 1.35 1,341
    2023-02-01 $550,000 (2.3%) $664,411 (-2.0%) 1.33 1,195
    2023-03-01 $563,850 (7.0%) $663,738 (-2.2%) 1.33 1,122
    2023-04-01 $589,000 (2.9%) $686,448 (-2.0%) 1.37 1,030
    2023-05-01 $584,500 (0.4%) $682,577 (-1.6%) 1.33 1,139
    2023-06-01 $579,675 (-0.8%) $684,656 (0.2%) 1.30 1,247
    2023-07-01 $579,000 (3.4%) $704,570 (10.1%) 1.32 1,327
    2023-08-01 $571,995 (5.0%) $698,149 (10.3%) 1.31 1,415
    2023-09-01 $570,000 (6.6%) $684,822 (9.1%) 1.33 1,528
    2023-10-01 $550,000 (4.2%) $680,067 (10.1%) 1.29 1,557
    2023-11-01 $549,900 (5.8%) $677,391 (11.1%) 1.31 1,535
    2023-12-01 $549,000 (4.3%) $677,690 (9.8%) 1.34 1,286
    2024-01-01 $549,945 (1.0%) $684,843 (6.9%) 1.34 1,155
    2024-02-01 $549,925 (0.0%) $686,322 (3.3%) 1.32 1,009
    2024-03-01 $550,000 (-2.5%) $690,158 (4.0%) 1.29 980
    Ogden's median listing price for 2024-03-01 was $550,000, a difference of $-13,850 (-2.5%) versus the prior year and $75 versus the prior month.

    Ogden's median listing price comes in at 129% of the national average.

    Ogden's average listing price for 2024-03-01 was $690,158, a difference of $26,420 (4.0%) versus the prior year and $3,836 versus the prior month.

    For the 2024-03-01 period, Ogden had 980 MLS listings, a difference of -29 listings (-3%) versus the prior month and -142 listings (-13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ogden (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 57 days 2,947 sqft
    2018-02-01 38 days 3,037 sqft
    2018-03-01 33 days 3,138 sqft
    2018-04-01 30 days 3,130 sqft
    2018-05-01 29 days 3,063 sqft
    2018-06-01 32 days 3,062 sqft
    2018-07-01 33 days 3,002 sqft
    2018-08-01 35 days 2,933 sqft
    2018-09-01 35 days 2,888 sqft
    2018-10-01 39 days 2,858 sqft
    2018-11-01 45 days 2,850 sqft
    2018-12-01 53 days 2,898 sqft
    2019-01-01 63 days 2,972 sqft
    2019-02-01 49 days 2,998 sqft
    2019-03-01 41 days 3,073 sqft
    2019-04-01 37 days 3,136 sqft
    2019-05-01 31 days 3,058 sqft
    2019-06-01 32 days 3,003 sqft
    2019-07-01 35 days 2,959 sqft
    2019-08-01 36 days 2,877 sqft
    2019-09-01 37 days 2,777 sqft
    2019-10-01 38 days 2,708 sqft
    2019-11-01 45 days 2,696 sqft
    2019-12-01 55 days 2,764 sqft
    2020-01-01 67 days 2,923 sqft
    2020-02-01 37 days 2,947 sqft
    2020-03-01 24 days 2,925 sqft
    2020-04-01 28 days 2,809 sqft
    2020-05-01 38 days 2,954 sqft
    2020-06-01 30 days 3,012 sqft
    2020-07-01 32 days 2,899 sqft
    2020-08-01 24 days 2,745 sqft
    2020-09-01 23 days 2,709 sqft
    2020-10-01 19 days 2,599 sqft
    2020-11-01 24 days 2,658 sqft
    2020-12-01 32 days 2,480 sqft
    2021-01-01 26 days 2,478 sqft
    2021-02-01 9 days 2,502 sqft
    2021-03-01 3 days 2,431 sqft
    2021-04-01 5 days 2,576 sqft
    2021-05-01 9 days 2,673 sqft
    2021-06-01 9 days 2,477 sqft
    2021-07-01 12 days 2,425 sqft
    2021-08-01 14 days 2,442 sqft
    2021-09-01 18 days 2,461 sqft
    2021-10-01 22 days 2,358 sqft
    2021-11-01 24 days 2,295 sqft
    2021-12-01 37 days 2,405 sqft
    2022-01-01 37 days 2,376 sqft
    2022-02-01 22 days 2,454 sqft
    2022-03-01 22 days 2,274 sqft
    2022-04-01 20 days 2,468 sqft
    2022-05-01 23 days 2,516 sqft
    2022-06-01 25 days 2,546 sqft
    2022-07-01 31 days 2,408 sqft
    2022-08-01 38 days 2,397 sqft
    2022-09-01 44 days 2,396 sqft
    2022-10-01 50 days 2,392 sqft
    2022-11-01 57 days 2,387 sqft
    2022-12-01 66 days 2,414 sqft
    2023-01-01 75 days 2,497 sqft
    2023-02-01 64 days 2,570 sqft
    2023-03-01 50 days 2,627 sqft
    2023-04-01 46 days 2,760 sqft
    2023-05-01 39 days 2,720 sqft
    2023-06-01 39 days 2,700 sqft
    2023-07-01 44 days 2,673 sqft
    2023-08-01 46 days 2,588 sqft
    2023-09-01 47 days 2,556 sqft
    2023-10-01 49 days 2,529 sqft
    2023-11-01 55 days 2,520 sqft
    2023-12-01 67 days 2,463 sqft
    2024-01-01 72 days 2,460 sqft
    2024-02-01 59 days 2,462 sqft
    2024-03-01 46 days 2,479 sqft
    Ogden's median listing age (time on market) for 2024-03-01 was 46 days. This is -8% shorter than the same period one year ago.

    Ogden's median square footage for active listings during the 2024-03-01 period was 2,479 sqft. One year prior, the average listing was 2,627 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).